Egypt contracted to import 20,000 tonnes of Indian rice.

Egypt, traditionally a rice exporter, has contracted to purchase 20,000 tonnes of Indian rice as per a cabinet statement on 03 May. Egypt govt statement did not explain why it had contracted to buy the rice. But in December, govt said it would import rice after cancelling a tender to buy locally produced rice when the bidding companies all offered higher prices than the govt had asked for. Egypt rice paddy production is estimated at 5.1 million metric tonnes in 2016 versus annual consumption of about 3.95 million tonnes, said USDA.

India coffee exports during Jan 1- May 2.

The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.

MCX cotton up on fall in arrival, likely high demand.

Futures contracts of cotton rose on the MCX after arrivals declined in major spot markets across the country. arrivals of cotton in spot markets stood at 67,700 tonne, lower than 69,700 tonne on previous close. Consumption of cotton by mills is seen rising 2% in 2017-18 to 5.2 million tonne, due to competitive prices for cotton yarn products. This has also supported the sentiment. The most active May contract of cotton was at 20,650 rupees per bale (1bale=170kg), up 0.6% from the previous close.